Who should get my pension if I am divorced and my DC are still little

[oreoxoreo]

Just filling out for the new job's pension scheme. There is a question who will be the beneficiary in case of my death. I am in a process of divorcing, my DC are only 10 and 8. Also in a relationship that is fairly new.
I have a will for my house for which I have got 2 trustees (a friend and my sister). Pension was not mentioned at the time.
Ultimately I want everything to be equally shared between my DC, but will it be legal if I write both of them as beneficiaries? And if so, where does the function of trustees comes in?

Thank you for any help!

And what happens if I remarry?

If your two children are too young then can it be paid into a trust for when they are older?

Never leave it to a partner who is not the kids other parent and just assume they will give to the kids..what usually happens is they go on to remarry, keep the money and the step kids from previous marriage get nothing....

Seen it too many times on here and in real life...make sure it goes to your kids ...have a trust set up in the event of your death and have it where nobody but them can access it (and that they can access it at 18 or 21)..

The pension itself is already held in a trust, and the pension Trustees need you to complete an Expression of Wishes to nominate potential beneficiaries. If you are married they would always look to pay out to spouse first, regardless of any other nominations, and then to dependents. In your case they would be looking to your children as dependents. Ultimately it is down to the Trustees' discretion who they pay benefits to but you nominating your children will help to guide them.

I'm not in the UK but pensions here work similarly to the UK for things like this.

The form is a "letter of wishes" which informs the trustees of the pension scheme where your death benefits are to go.

You can state the benefits are to go to your children - but what happens if they are only mid teens - you may not want them to have the money with no limits?

Maybe check with the pension scheme trustees if there are standard wordings available for your situation - you could state something like "The benefits are to be split equally between my children, my sister X and my friend Y are to administer the funds for the children's benefit if I die before the children reach age 18/21/23. Any child who has reached this age before I die is to receive the funds directly."

You can usually stipulate in your expression of wish form to split the money, perhaps to sibling / whoever is a guardian or to the children directly or to children in trust.

Do remember to update your EoW form regularly. You may consider in years to come it's appropriate your new partner benefits from it - or not. And as your children age, trusts may become less appropriate I.e. there may be a time when it's ok they just get cash.

If you're mentioning trusts in your will then mention those in EoW form if you want your pension monies to go there - saves your pension trustees (separate people) setting one up.

Also consider Death in Service payout, if administered separately.

Your kids, held in trust until they are 21. If you remarry change your wishes then

Thank you. What's the easiest way to establish trust? Can my life insurance money also go there?

Oh actually the pension scheme joining form says "nominate your partner for pension in case of your death".
Do I just put my children? Or trustees? Or don't have one?

Just put your children with a 50/50 split.